In the past twelve months we’ve grown from 10 employees to more than 75 of the most ambitious and intelligent people I've ever met. With all this momentum, I wanted to take a moment to share what we're doing and reflect on how we’re changing the insurance industry.
Preface - Now is a great time to join us! It’s a great time to join Newfront, and we’re hiring across the board. Whether you’re considering a change or not, please take a look at our careers page.
1. A better home for brokers
Newfront is a traditional retail brokerage with a powerful mission. We’re improving the agency model by empowering our brokers with technology and expert service. Though we’re building our own technology platform, we don’t license or sell our software, and we’re not trying to “disrupt” what already works.
Our team has deep roots and expertise across the industry. From the very beginning, Newfront has been committed to quality: the quality of the business we write and the services we provide. We take pride in delivering comprehensive risk management, and we’re as committed as ever to our solid relationships with our carrier partners. While I’d like to see many improvements to the industry, the fundamental importance of the broker and the brokerage model itself have worked for decades.
2. Technology that works
I have long believed that technology can help insurance professionals, so our industry’s lack of technological adoption has always frustrated me. On one extreme, we have a culture afraid of change, while the other extreme boasts industry-outsiders building clunky one-size-fits-all software that only makes things worse.
I joined Newfront because I immediately connected with their approach: Build a completely new brokerage that integrates the best technology from day one. Since the beginning, we’ve been able to rapidly prototype and build tools that were immediately useful. Our engineers work directly with our producers and account managers, and we’re extremely pragmatic about what we build.
Our technology grants us impressive efficiencies and an improved experience for clients. Digital applications and renewals are only the beginning--our platform removes the pain from so many of the most cumbersome insurance tasks. After so many years feeling like our industry was falling behind, I’m proud to be part of the solution.
3. Shift the economics
During my years in insurance, I’ve seen greed and misaligned incentives wreck professional relationships. Broken promises are a huge problem in our industry. That’s why we’re changing the economics to work in favor of the producer. We believe in sharing more value with those who create it.
This is not a business built to enrich the management of the firm, this is a business that is designed to help producers and their clients. Newfront offers some of the industry’s highest splits and we give equity to every employee from day-one. While giving equity to producers up-front sounds radical, it simply ensures we’re all in this together, and we believe it’s the right way to build an impactful business.
4. Great culture leads to great outcomes
Our industry has a reputation of being old-school and disinterested in innovation. There's always been an uneasiness around change and you don’t hear many people seriously considering how they can do better.
At Newfront, we’re all here to up-level the industry, and I’m proud of our inclusive culture of growth, collaboration and improvement. When guests walk into the office, they tell me they’re stunned by the energy and enthusiasm they experience. It’s something they really haven’t felt in insurance before, and it leads to phenomenal outcomes for brokers and clients alike.
Whenever I’m asked about our service and account management team, I always mention that we hire problem-solvers with an entrepreneurial mindset. At most brokerages, account managers’ responsibilities fall within a rigid structure that squashes creativity and enthusiasm. Newfront’s culture, however, allows us to give our account managers much broader authority and autonomy, which empowers them to deliver much better service.
We believe culture is fundamental to building a successful business. Our culture, perhaps more than anything else, has enabled our growth. It’s the energy I always wanted to find in the industry and never could. It’s why you should reach out to me about joining Newfront!
Till next time,